Last updated on May 16th, 2022 at 11:30 am
Uk businesses that that take payments via Sage Pay (now Opayo), could apply for a merchant cash advance.
Lots of companies in the UK accept debit and credit card payments in their business using Sage Pay, a brand which has been around for many years. After a recent rebrand they are now called Opayo which not everyone is aware of.
If your business uses Opayo, there is a type of business finance available called a Merchant Cash Advance. This allows you to borrow 1-2 months average card takings and repay it as a small percentage of your future card takings.
The repayment amount is fixed, so you know exactly what you will repay.
Call us on 0161 5469128 or fill in the form below to apply, alternatively read on to learn more below.
Sage Pay & Opayo Merchant Cash Advances
A Opayo Merchant Cash Advance is an alternative to a business loan where the financier “purchases” a percent of your future credit and debit card sales. This is for a fixed repayment cost and is repaid as a percentage (between 10% & 20%) of future card sales.
Usually your business needs 6 months trading with Opayo/Sagepay.
High acceptance rates, even with a low credit score.
Borrow 100 – 200% of average monthly Opayo sales, via one of our trusted lending partners.
Most business sectors covered and finance can be used for any legitimate business purposes.
Sage Pay Merchant Advance Example
Average Monthly Card Sales: £22,000
Amount of Finance: £22,000
Factor Rate: 1.21
Total Repayment: £26,620
Repayment Sweep: 20%
So in this example you borrow £22,000 and then repay 20% of your future card takings until you repay £ 26,620. Could be subject to minimum payments if your turnover is significantly below average.
Apply For A Sage Pay or Opayo Merchant Cash Advance
As an independent business finance brokers, we help businesses who have Sage Pay or Opayo POS source finance a cash advance. Even if you have been declined by another lender.
Call us on 0161 5469128 or fill in the form below to get a no obligation quote.